- Castor Maritime Inc. (NASDAQ: CTRM) has announced the acquisition of its first Ultramax dry bulk carrier.
- The company has entered into an agreement to purchase a 2015-built vessel for $25.5 million from an unaffiliated third-party.
Castor Maritime Inc. (NASDAQ: CTRM) has announced the acquisition of its first Ultramax dry bulk carrier. The company has entered into an agreement to purchase a 2015-built vessel for $25.5 million.
The acquisition is expected to bolster Castor Maritime’s fleet, which currently includes Kamsarmax, Panamax, and container vessels. The company anticipates taking delivery of the Ultramax vessel during the third quarter of 2024.
Fleet Expansion and Diversification
This acquisition marks a significant step in Castor Maritime’s fleet expansion strategy. The addition of the Ultramax vessel diversifies the company’s vessel types, which currently include Kamsarmax, Panamax, and container ships. The expanded fleet is expected to enhance the company’s operational flexibility and market reach.
Strategic Growth
Castor Maritime anticipates taking delivery of the newly acquired vessel during the third quarter of 2024, subject to customary closing conditions. The company’s CEO, Petros Panagiotidis, expressed enthusiasm about the acquisition, emphasizing its alignment with the company’s growth strategy.
With this latest addition, Castor Maritime’s fleet will comprise 11 vessels with a combined capacity of 0.8 million deadweight tons.
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Source: Castor Maritime
